Robeco Institutional Asset Management B.V. Cuts Stake in Zillow Group, Inc. $Z

Robeco Institutional Asset Management B.V. reduced its position in Zillow Group, Inc. (NASDAQ:Z) by 19.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 233,079 shares of the financial services provider’s stock after selling 56,751 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Zillow Group were worth $17,959,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its holdings in shares of Zillow Group by 57.5% in the 1st quarter. Alliancebernstein L.P. now owns 345,153 shares of the financial services provider’s stock valued at $23,664,000 after purchasing an additional 126,069 shares in the last quarter. Fred Alger Management LLC bought a new position in Zillow Group in the first quarter worth approximately $475,000. Empowered Funds LLC raised its stake in Zillow Group by 4.7% in the first quarter. Empowered Funds LLC now owns 3,822 shares of the financial services provider’s stock worth $262,000 after buying an additional 171 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Zillow Group by 2.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 985,003 shares of the financial services provider’s stock worth $67,532,000 after buying an additional 24,951 shares during the period. Finally, SCS Capital Management LLC bought a new stake in Zillow Group during the 1st quarter valued at $440,000. 71.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Z has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Zillow Group from $94.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Oppenheimer assumed coverage on shares of Zillow Group in a report on Monday, October 6th. They issued a “market perform” rating for the company. Mizuho upgraded shares of Zillow Group to a “strong-buy” rating in a report on Monday, September 29th. Sanford C. Bernstein upgraded shares of Zillow Group from a “market perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a research note on Wednesday, September 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Zillow Group in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.14.

Zillow Group Stock Performance

Shares of Z stock opened at $69.95 on Friday. Zillow Group, Inc. has a fifty-two week low of $57.51 and a fifty-two week high of $93.88. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of -499.61, a PEG ratio of 3.78 and a beta of 2.07. The stock’s 50-day simple moving average is $71.13 and its 200-day simple moving average is $76.29.

Zillow Group (NASDAQ:Z) last released its earnings results on Thursday, October 30th. The financial services provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.02). Zillow Group had a negative return on equity of 0.56% and a negative net margin of 1.29%.The company had revenue of $729.00 million during the quarter, compared to analyst estimates of $670.28 million. As a group, equities analysts forecast that Zillow Group, Inc. will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Dan Spaulding sold 5,455 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $69.40, for a total value of $378,577.00. Following the completion of the transaction, the insider directly owned 50,342 shares in the company, valued at $3,493,734.80. This trade represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO David A. Beitel sold 3,893 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $71.12, for a total transaction of $276,870.16. Following the completion of the transaction, the chief technology officer owned 140,656 shares in the company, valued at approximately $10,003,454.72. This trade represents a 2.69% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 67,511 shares of company stock valued at $4,766,357. Insiders own 25.03% of the company’s stock.

Zillow Group Profile

Zillow Group, Inc is an online real estate marketplace company that operates a portfolio of consumer-facing websites and mobile apps designed to connect buyers, sellers, renters, homeowners and real estate professionals. The company’s platforms aggregate property listings, rental listings, and related information to help users search for homes, estimate property values and connect with agents and service providers. Zillow generates revenue primarily through advertising and lead-generation services for real estate professionals, property managers and mortgage lenders.

Key products and services include the Zillow and Trulia consumer websites and apps, which provide searchable listings, photos, neighborhood data and the company’s automated home valuation tool known as the “Zestimate.” Zillow also offers a rentals marketplace, a mortgage marketplace and tools for home buying and selling such as Zillow Premier Agent for agent advertising and leads, as well as ancillary services designed to support transactions, including closing and title-related offerings.